Board to Administer Sample Clauses
The 'Board to Administer' clause designates the board of directors as the primary body responsible for overseeing and managing the administration of a particular agreement, policy, or organizational matter. In practice, this means that decisions regarding the implementation, interpretation, and enforcement of the relevant provisions are made by the board, which may include setting procedures, resolving disputes, or making determinations as needed. This clause ensures centralized and authoritative governance, providing clarity on who holds decision-making power and streamlining the administration process.
Board to Administer. Subject to the provisions of this Agreement, the ------------------- Board shall have exclusive authority to interpret this Agreement, to establish and revise rules and regulations relating to this Agreement, and to make any other determinations that it believes necessary or advisable for the administration of this Agreement. Decisions and determinations by the Board shall be final and binding upon all persons for all purposes and no member of the Board shall be liable to any person for any action taken or omitted in connection with the interpretation and administration of this Agreement unless attributable to his own willful misconduct or lack of good faith.
Board to Administer. This Plan shall be administered by the Compensation Committee (hereinafter referred to as the "Committee”) of the Board of Directors of Braintech, Inc. (hereinafter referred to as the "Board"). Any action of the Committee with respect to administration of the Plan shall be taken pursuant to a majority vote, or to the written consent of a majority of its members.